White Pine Capital LLC Acquires Shares of 26,107 Sonos, Inc. (NASDAQ:SONO)

White Pine Capital LLC purchased a new position in Sonos, Inc. (NASDAQ:SONO) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 26,107 shares of the company’s stock, valued at approximately $393,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SONO. Entropy Technologies LP bought a new stake in Sonos during the fourth quarter worth about $177,000. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Sonos by 0.9% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,671,113 shares of the company’s stock worth $25,134,000 after purchasing an additional 15,171 shares during the last quarter. Highland Capital Management LLC bought a new position in Sonos in the 4th quarter worth about $243,000. Robeco Institutional Asset Management B.V. increased its stake in Sonos by 1.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 382,575 shares of the company’s stock valued at $5,754,000 after purchasing an additional 5,281 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Sonos by 52.6% in the fourth quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $111,000 after buying an additional 2,551 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Price Performance

Shares of NASDAQ:SONO opened at $13.17 on Friday. The stock’s 50-day simple moving average is $14.39 and its two-hundred day simple moving average is $13.18. Sonos, Inc. has a 52-week low of $10.23 and a 52-week high of $19.76.

Sonos (NASDAQ:SONO) last announced its earnings results on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Sonos had a negative net margin of 4.73% and a negative return on equity of 13.22%. Equities analysts anticipate that Sonos, Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

Separately, Rosenblatt Securities reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Sonos in a research report on Friday, February 7th.

Sonos Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.